C4MBRIDGE EYE TRUST
Report and Accounts
cambridge £ye
Ortober 2020
Contents
Page
Report of the trustees
Statement of financial activities
Cash flow statement
Ito4
Balance sheet
Investments
Examiner's report to the tnL8tees
8and9
io
Web address

Trustees, Annual Report
The trustees present their report for the year to 31st October 2020.
Oblertlves and activities ofthe
The object of the Cambridge Eye TrusL &s set out in its governing documenl is to advance
the education of the public in the science of ophthalmology, Tn particular but without
limitation by :_
i. establishing and maintaining the Cambridge Ophthalmologi¢al Symposium
(to be held periodically and to be open to specialists OT Students of
Ophthalmology or related sciences). for the study, dISc￿$s1on and reading
of papers on topics related to the science and practical development of
Ophthalmology and all allied subjects. including the provision of lecturers
and other speakers for the Symposium and the publication of reports of th¢
proceedings. and
ii. supporting the research of lecturers and resear¢heTS in the field of
Ophthalmology.
The advancement of research and education of the public in the science of ophthalmology
is achieved by:
l Facilitating the interaction between science and medicine, by hosting the annual
Cambridge Ophthalmological Symposium. The Symposium was not held in
September 2020 in view of the Covid-19 pandemic. In 2021. the Trust plan a
streamed lecture by an internationally respected Ophthalmologist, in view of the
continuing pandemic.
2 Offering bursaTies to junior scientists. doctors in training and PhD students,
who are actively involved in the subject und¢r discussion but who cannot afford
to attend the symposium, even though this would be valuable for their TeseaTch.
These bursaries were not provided this year in view of the cancellation of the
Symposium
3 Publishing the proceedings of the symposium in 'EYE' (Nature Publishing),
the officiaI journal of The Royal College of Ophthalmologists.
4 Supporting clinical and labordtory scientific research in ophthalmology, in
particular in the areas of glaucoma and optic nerve diseases, corneaI and strabismus
surgery and the genetics and management of StickEer's Syndrome. These aspects
are represented by acknowledged experts in the field. who are Consultants of the
Eye Department of Addenbrooke's Hospital in Cambridge. A major effort in basic
science research has been aimed at piotecting and repairing the damaged Optic
nerve. This support has provided bridging fmance for staff between grants, as well
as, occ&sionally. providing staff for limited periods and from time to time
providing essential equipmeTkt and materials, which cannot be obtained in other
ways.
Cambridge Eye Trust
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5 Supporting initiatives for th¢ ophthalmologists in training at Addenbrooke's
Hospital Cambridge, for example in providing support for simulator training in
ophthalmic surgery.
6 Promoting research in the science of vision to A level students and medical
students by supporting travel grants to science conferences or student electives
in ophthalmology. No conferences were held in 2020. No grants were given in
2020.
7 Publishing a Newsletter and maintaining a website. Inforniation about
ophthalmological topics is included on the charity's website and in a regular
newsletter. both of these are fre¢ly available to the public and ophthalmologists. .
The Cambridge Eye Trust newslett¢r continued in 2020.
Aehievements and perforni2Dee
The trustees have continued to support the programme of reseaTch set up in September
2017 in the Centre for Brain RepaiT by Professor Keitb Martin, who moved in 2019 to
Melbourne Australia to head the Centre for Eye Research Australi& This programme
'Enhancement of Optic Nerve Regeneration by modulation of Integrins, aims to promote
orderly and controlled regeneration of axons in the optic nerve wtthout reliance on
oncogenes, offering hope of restoring vision to those blind witb optic nerve disease. In
2020. the Trust agreed to continue the funding for another year in order to allow 2 PhD
students to complete their research work, which had been restricted by laboratory closures
due to the pandemic:
In 2020, the Trustees Teceived a request from Patrick Senior Le¢turer in
Ophthalmology at the UniveTsity of Cambridge, for a top-up grant for an OCT (Optical
Coherence Tomography) nwhine to use in a dedicated TeseaTch facility. in order to study
patients undergoing a research trial of g¢n¢ therapy for Leber's Hereditary Optic
Neuropathy. After due considerdtion by tbe Trnstees, it was agreed to grant a sum of
£50,000 to purch&8e the OCT foT the research room, on condition that the facility was also
avatlable for research to other members of the Eye Department. OCT is a non-invasive
diagnostic instrument used for imaging the retina. The OCT uses an a￿aY of light to scan
rapidly the eye. These scans are interpreted and the OCT then presents an imag¢ of the
tissue layers witbill the retin&
In 2020, th¢ Trust gave a grant to the Addenbrooke's UnAversity Hospital Trust (the
Hospital Tn￿t) in order to fund equipm¢nt for a simulator SUTgery laboratory. This helps
surgeons re-learn rnicrosuTgery after several months absence from the operating theatre,
necessitated by their involvement caring for Covid patients on the wards. The new facility
has proved very popular with the tratnee ophthalmic surgeons at the Hospital Trust.
Plans for the future
If new advances are to be made witbin the field of medical ophthalmology it is vital that
clinician ￿IentIStS are trained in this specialty. This is on¢ of tbe long-terni aims of the
charity and the funding h&s enabled the employment of a post- doctorate reseaTch associate
posl named the Dickerson Fellowship, to work within the current research programme of
the ophthalmic departments of the University of Cambridge and the Hospital TnLSt.
The Trust has guaranteed to supwrt research supervised by a new Professor of
Ophtlwlmology at the UnÈversity of Cambridge, who it was hoped would be appointed in
the Spring of 2020. In 2020, we were unable to appoint a Professor and, after due
Cambridge Eye Tryst
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negotiation with the uniV￿S1ty, Lt was agreed that th¢ Trust would support a senior
Lecturer in the Departm¢nt. To date, no appointment h&s Ixen made.
OrganisAtio
The affairs of the chaTity ar¢ conducted by the trustees with the assistance of a freelance
conference organiser and a financial adviser (who maintains accounting records and
prepares periodic accounts). There are no volunteers apart from the truste¢s.
The trustees serving in the year and the subsequent p￿10d to date were:.
Mr. N J Sarkies Chairn)an
Mr. R Ashby- Johnson
Mr. M P Snead
Mr. DougIas Newman
Mr. A J Vivian
Professor M Rajan
Mrs. H Shmhid
Dr Tasneem Zainab Khatib
Mr. C Rene was appointed as an additional on 2 June 2021.
New trustees are selected according to the perceived needs of the CP￿￿ty.
gnd administrnlive infornthtion
The trust maTntains a website for which the address is www.
Cambridge Eye Trust is a Charitable trust registered with the Charity Commission for
England and Wales under the reference 265140.
The governing document is a Scheme dated 16th November 2004.
The trustees are incorporated as -
'The Incorporated Trustees of The Cambridge Ophthalmological Symposium,
so that investments may be held in that name.
The principal address for correspondence is:
Wistow, The Green, Hilton, HUntIngdo￿ Cambridgeshire PE28 9NB
Monies are held at CAF Bank Ltd and on deposit with the Charitles Official Investn]ent
Fund. Some investments are managed by Tilney Investment Management Services Ltd of
6 Chesterfield Gardens. London Wl15BQ, an independent adviser authorised and reguIated
by the Financial Conduct Authority. and ar¢ held by Pershing Secwities Ltd. of One Clove
Crescent, East India DOCK London E14 2BH. Other investments have been made into
charity authorised investment funds. that are managed for c]wity investment and as such
enjoy advantages. Three of these fimds are held by Barclays Stockbrokers and two are
held directly.
Re￿e￿ of fmanci81 affairs
The result for the year to 31" October 2020 was a deficit of £44,698 to which was added
investment losses realised and unrealised in the year of £121,877 to make a combined
d¢ficit of £166.575. This deficit on the value of investn]ents has since been exceeded by
gains in the current year.
As the Symposium had to be postyoned. there was no income from that source. Donations
and Gift Atd declined to £6,303. Investn]ent income rose by £394 to £48,038.
The deficit includes expendilmre of £73,464 for grants to support researcb projects and
£5,638 for research insttillnents. The trustees have comn]itted to £62.000 over the current
and next year to support an ongoing research project and the OCT facility. They shall
support other applications that are received for projects and bursaries, subject to their
approval. Requests for flmding are sent for pe¢r review before bexng evaluated by the
trustees.
Cambridge Eye Trust
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The net assets of the trust weTe £1,467,000 at the year-end of which £1,460,000 w&s held
in listed invesÉments.
Policies
Investment
The policy of the Trustees is to invest to pmvide an Income return that it￿e&Ses at least in
line both with infiation and with the increase to be expected from investing additional
monies during each year. The investtnents 8Te held in managed funds and trusts to achieve
th spread and diversity of investments.
Reserves
The Trustees require reserves sufficient to cover potential deficits from the amiual
symposium. Any surpluses are accumulated towards supporting educational and research
posts for ophthalmologists within the Sch(K)l of Clinical Medicin¢ and for other costs and
equipment for research proj¢¢ts.
Public benefit
The tr￿SteeS have had iegard to the guidance on public benefit.
People worldwide with eye problems have benefited direcdy from advances in medical
procedures and instrumentation, discussed during the symposi4 and from the research
associations resulting from contacts made during the residential SYM￿S1a n]eetings.
Publication of the proceedings extends the knowledge of clinicians through the WOTId.
Patients will be reassured by reading the inforn)atIo￿ on the Charity's website alld
otherwise published, about the procedures that are likely to be applied to th¢m.
If the current research Rs suc¢essfill, patients wÉll benefit through the ability of clinicialls to
prevent detachment of the ￿tIna and, if they cannot be prevente￿ to intervene early in the
dise&ses of glaucom￿ comea and macular degeneration. In the longer tenn the aitn is to
reverse the disease process.
20th J￿Y 2021
Cambridge Eye Trust
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STATEMENf OF FtNANCtAL ACTIVITiES
Year to 31 October 2020
Year to 31 October 2020
Note
Year to 31 October 2019
Notr UDrestr-
ieted
Unrestr-
icted fund
ID¢ome from:
Donations including Gift Aid
Charitable activities:
Registration fees
Sponsorship and grant
Investments
6.303
8,023
26,575
13.000
47,644
95.243
48,039
54,342
TotaI income
Expendilure on:
Charitable activities:
Costs of th¢ symposium
Bursaries and grants
Research instruments and Dickerson Fellow
Other- investment manag¢rn¢M alld accoungancy
Total expenditure
io,iio
41,823
2.000
50.829
10.792
105.444
(10201)
79.102
9,829
99.041
(44,699)
N¢t (deficits) gains on investment asseLI
Net ivcowe
(121.877)
(166.575)
59.324
49.123
Reconciliation of fund
Total fund balance brought forward
Total fimd balance ¢arri¢d forward
1,632,788
1.466213
1.583.666
1.632.789
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11108r2021

CASH FLOW STATEMEiYr
Year to 31 October 2020
Note
202
2019
RECONCtLIATION OF NET INCOME
TO NET CASH FLOW FROM OPERATING ACTIVTrtEs
Net income or deficit
AdjusÉmentsfor."
Deficits or (Gains) on inv¢sknent assets
Dividends and intsre5t from investments
Decrease or (Increase) in debtors
(Increase) or Decr¢8s¢ or in tsx r¢¢ov¢rable
(Decrease) or increase in creditors
Net cash provided by operating activities
(166.575)
49.123
121.877
48,039
117
(165)
(9.023)
(5.731)
(59,324)
47.644
28
3.134
(20,442)
20.163
STATEMENf OF CASH FLOWS
N¢t cash provided by operating activities as alKyve
Cttshflowsfrom invesling activilies."
Divid¢nds and interest from investments
(Purchase) less sale of investm¢nts
(5,731)
20,163
(48.039)
(67.757)
(121.526)
138.270
16.744
(47.644)
22.837
(4.644)
142.914
138270
Bank and dewsit balances at start of year
Bank alld deposit balances at end of year
HELD AS FOLLOWS
Pershing Securities deposit
CAF Investment deposit
COIF Charities Deposit Fund
Barclay5 Investment Solutions
PayPal balance
Bank balance
170
2.574
4.872
16,737
904
111,603
5,248
2272
1,508
138,270
9.128
16,744
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l¥inted 1110812021

BALANCE SHEET
31st October 2020
31st October 2019
lllvestments
Listed investments per note
Pershing Securities deposit
CAF Investment deposit
COIF Charities Deposit Fund
1.460.759
170
2,574
4,872
1,468.374
1,514.879
16.737
904
111,603
1.644.122
Currellt assets
Debtors and prepayments
Tax recoverable
Barclays Investment Solutions
PayPal balance
Bank balance
117
336
5,248
2.272
1,508
9,480
501
9,128
9.629
Current liabilities
Creditors
10,558
19.581
NÈt ¢iirreDt Oiqbilitie$) assets
{929)
1.467.445
(io,ioi)
1,634.020
Net tangible assets
A¢¢umulated fuDd
Closing balance
1.466213
1,631788
Restricted fund
EndowtNellt
Opening and closing balance
there being no movements in the year
1.232
1,232
1,467,445
1.634.020
Approved by the Tn&stees on 2nd December 2020 and signed on their behalf by
NJS
i¢s Chairman of the Trustees
Notes
) 'I'hese accounts have been pffpared".-
under the historical cost convention with items recoginsed at cost or transaction value. to
accord with the Statement of Recommended Prdctice: Accounting and Reporting by Charities
prepartng their accounts IN accordance with the Financia] Reporting Stsndard applicable in the
UK {FRS102) and with the Charites Act 2011.
b) Investment gain5 and losses include any reali5ed and unrealised gains and losses on the sale
of investments and any gain or loss resulting from revaluing investments to market
value at the end of the year.
e) Small differences may arise in tots5s due to rounding pence to whole numbers.
Cambridge Eye Trust
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Printed 1110812021

Independent examinerfs report to the trustees
I report to the trustees on my examination of the accounts of the Cambridge Eye
Trust (the Charity) for the year ended 31st October 2020, which are set out on pages 8
to 12.
Responsibilities and basis of report
As the Charity's trustees you are responsible for preparing the accounts in
accordance with the requirements of the Charities Act 2011 ('the Act,).
I report in respect of my examination of the Chariws accounts carried out under
section 145 of the 2011 Act and, in carrying out my examination, I have followed all
the applicable Directkons given by the Charity Commission under section 145(5)(b) of
the ACL
Independent examinerfs statement
I have completed my examination. I confirni that no material matters have come to
my attention from the examination giving me cause to believe that in any material
respect=
accounting records were not kept in respect of the Charity as required by
section 130 of theAct: or
2. the accounts do not accord with those records: or
3. the accounts do not comply ￿th the applicable requirements concerning the
forni and content of accounts. set out in the Charities (Accounts and Reports)
Regulations 2008, other than any requirement that the accounts give a 'true and
fair view,. which is not a matter considered as part of an independent
examination.
I have no concerns and have come across no other matters in connertion with the
examination to which attention should be drawn in this report in order to enable a
proper understanding of the accounts to be reached.
Signed:
Name:
Stuart Berriman FCCA FCA
Chater Allan LLP
Address.. Beech House, 44 Newmarket Road, Cambridge CB5 8DT
Date:
16th August
2021
Cambridge Eye Tn￿t
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